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Helenas Court Apartments

Helenas Court Apartments

http://www.josephbernard.net/helenas-court-apartments
Address:
1406 SE 27th Ave, Portland, Oregon 97214
Price:
$2,140,000
Units:
8
Price per unit:
$267,500
Cap Rate:
4.23%
Year Built:
1941

Highlights

  • True turnkey investment property
  • Hardwood floors
  • Newer vinyl windows
  • 7 garages
  • Updated electric
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Helenas Court Apartments

Summary

A true "Pride of Ownership" offering!

 

The three generation owned vintage property has been impeccably maintained, featuring beautiful hardwood floors and original vintage charm throughout the property. The income from the seven garages essentially creates the income of another entire unit, making the property unique in generating the income of a nine unit property with the expenses of an eight unit property.

 

The plumbing has been inspected and given a clean bill of health by Apollo Drain, and the electric was updated by Westside Electric in 2008. This vintage property even has upgraded double pane vinyl windows! Tenants also have access to a storage unit and laundry in the basement.

 

The basement also has an additional room that could be utilized as a common area community space, more storage or possibly an artist studio for more potential income. The heat is provided by a forced air gas furnace unit, installed by Pyramid Heating and Cooling.

 

The occupancy has been stellar over the long history of family ownership, typically the seller experiences less than 2% economic vacancy annually. The property is in great condition, with quality tenants and a very strong operational history, the seller even has a hand written book of all unit by unit improvements completed on the building for many years! This is quite possibly the perfect close-in, "turn key" property.

Highlights

  • True turnkey investment property
  • Hardwood floors
  • Newer vinyl windows
  • 7 garages
  • Updated electric

Helenas Court Apartments

SE 27th Ave/SE Madison St

Helenas Court Apartments

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Helenas Court Apartments

Document Title Document Type
Property Flyer Adobe PDF

Helenas Court Apartments

Bernard Gehret
bgehret@josephbernard.net
Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax